- France’s economy grew by 0.8 percent in Q1, as household consumption expenditure and total Gross Fixed Capital Formation — government and business expenditures on buildings, engineering construction and machinery and equipment — contributed the most to the growth.
- France’s jobless rate in July was 9.8 percent, a decrease of 0.1 percent from June, but unchanged from July 2003.
- Germany’s Q2 GDP rose by 0.8 percent compared to the previous quarter and by 3.2 percent compared to Q2 2003. Unemployment for Germany remained stable at 10.5 percent in July and August.
- The United Kingdom’s 4.8 percent jobless rate in July did not change from June, but decreased by 0.2 percent from July 2003.
- The Bank of England raised interest rates for the fifth time since November as a way to cool the booming British economy. The hike of 0.25 percentage points on Aug. 5 set the interest rate at 4.75 percent.
- As expected, the European Central Bank on Aug. 5 left interest rates unchanged at 2 percent, possibly paving the way for the eurozone’s economic recovery despite surging oil prices.
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